Feds offer $150M in clean energy tax credits

Federal agencies are offering $150 million in tax credits for energy efficient manufacturing projects.

Federal agencies are offering $150 million in tax credits for energy efficient manufacturing projects.

The U.S. Department of Energy and the U.S. Treasury have announced $150 million in energy manufacturing tax credits for clean energy and energy efficiency manufacturing projects in the U.S.

The Advanced Energy Manufacturing Tax Credit was first established by the American Recovery and Reinvestment Act to increase investment in domestic, clean energy and efficient manufacturing facilities. The first round of funding provided $2.3 billion in credits for more than 180 projects. The $150 million is available as tax credits today because it was not used by previous projects.

“Manufacturing the clean energy products of the future in America will create good, middle-class jobs right now and help law the groundwork for the long-term resilience of our economy,” Neal Wolin, acting Secretary of the Treasury, said in a statement.

During the past four years, the U.S. has doubled clean, renewable energy generation; about 500,000 manufacturing jobs have been created since 2010, according to the statement.

From the Houston Business Journal.

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